The Board of Directors of Topsil Semiconductor Materials A/S today considered and adopted the interim report for the three months ended 30 June 2012. The highlights of the interim report, which is unaudited, are shown below:
OVERVIEW
REVENUE AND EARNINGS
Topsil generated revenue of DKK 76.0 million in Q2 2012 against DKK 103.7 million in the year-earlier period. For the first half of 2012, revenue dropped by 21% compared to the same period last year. This represents an improvement relative to the previous guidance for a revenue decline of 25% for the first half year.
The company's operating profit for Q2 2012 was DKK 5.3 million (corresponding to an EBITDA margin of 7.0%) against DKK 6.7 million in the same period last year (corresponding to an EBITDA margin of 6.4%).
MAIN EVENTS
Market trend and the introduction of new products
The weak demand continued in Topsil's primary market, the NTD market, in the second quarter of the year, particularly from the transport and infrastructure sectors, in which Topsil has a large market share.
Two qualifications of the new PFZ silicon and the CZ-EPI products were completed in the quarter, and a range of further qualifications are ongoing.
R&D
The R&D department achieved the expected progress in the development of a 200 mm FZ product in Q2 2012, as the first diameter successes were achieved.
New plant
The installation of new machinery and equipment continued as planned in Q2. The first test crystal was produced at the new facility towards the end of the period.
OUTLOOK FOR 2012
In its stock exchange announcement of 8 August 2012, Topsil adjusted its expectations for the year. Topsil expects revenue in the range of DKK 260-280 million and EBITDA in the range of DKK 5-15 million.
Further information
Any queries regarding this stock exchange announcement may be addressed to the company's CEO and CFO through: Christina Fris Bjørling, Communications, tel.: +45 2152 1011
